The development of the downstream PCB industry promotes the growth of PCB ink demand

Printed circuit boards are the basis of electronic information products. Therefore, the application fields of printed circuit boards involve almost all electronic products, including communications and related equipment, computers and related equipment, consumer electronics, automotive electronics, aerospace electronics and other industries. Driven by the development trend of informatization and digitalization, the PCB industry has a broad market space and good development prospects, which will further promote the development of electronic chemicals such as PCB special inks.

In recent years, the manufacturing industry led by the electronic information industry has shifted to the Asia-Pacific region. Global PCB manufacturing centers have grown rapidly in the Asia-Pacific region. China’s PCB output value has increased significantly, and China’s PCB industry status has continued to strengthen. According to data from the China Business Industry Research Institute, my country’s PCB output value scale has reached 32.9 billion yuan in 2019, and will further rise to 35.1 billion yuan in 2020.

As the cutting-edge basic material of the PCB industry, PCB inks continue to expand in downstream applications, covering automotive electronics, computers, information communications, aerospace, household appliances, energy-saving lighting, consumer electronics, industrial control and other industries. With the acceleration of product upgrading in the electronic information industry, the market’s requirements for the improvement of the performance of electronic products have also continued to increase, PCB ink technology has been rapidly updated and upgraded, and the market scale has continued to grow. According to public data, the demand for PCB ink in China in 2018 was 14,000 tons, and it is expected that by 2022, the demand for PCB ink in China will rapidly increase to 16,880 tons, with a compound annual growth rate of 4.79%. The scale of domestic PCB ink demand Steady growth.

With the advancement of 5G technology and Internet of Things technology, the categories of electronic terminals are becoming more diversified. The rise of electronic terminals such as smart logistics, smart wearables, and smart homes will all have a strong pulling effect on the demand for PCB inks and promote the growth of the PCB ink industry .

The development of the special electronic coating industry is closely related to the development of downstream application fields. The deepening and broadening of downstream application fields, the rapid growth of domestic terminal brand business, the localization of the supply chain, and the shift of manufacturing focus to the country have driven the rapid development of the domestic special electronic coating industry. As the largest market segment in the field of special coatings, electronic coatings are shell coatings used in electronic products, mainly used in three categories of products such as computers, mobile phones and home appliances. In 2019, the total value of the global electronic coatings market reached 8.1 billion yuan, of which the Chinese market accounted for 60%. It is estimated that by 2026, the total value of the global electronic coatings market will reach 10 billion yuan, with a compound annual growth rate of 3.0%.

At the same time, in recent years, the electronic chemical industry has developed in the direction of green, energy saving, and environmental protection. New environmentally friendly coatings represented by UV-curable coatings have ushered in greater market opportunities. In the early days, UV-curable coatings were mainly used in the coating of electronic products such as CD/DVD and walkmans. With the continuous advancement of technology, their application fields have gradually expanded to televisions, computers, optical fibers and other products. At this stage, they are also widely used in medical treatment. Equipment, automobiles, woodware, plastic products, metal products, paper, fabrics, glass, building materials, food packaging, beverage packaging, cosmetics packaging and other industries. UV-curable coatings have excellent physical and chemical properties, good coating effects, fast curing speed, and low pollution. They have become one of the main alternatives to traditional solvent-based coatings. They are known as “green coatings in the 21st century, environmentally friendly coatings”, and the future market The potential is huge.

China’s photoresist industry is booming, and the market prospects are promising

In the context of global high-tech development, the Chinese government attaches great importance to the development of the semiconductor, flat panel display and PCB industries. Driven by a series of national dividend policies, the domestic semiconductor, flat panel display and PCB industries are developing well. As a key material in the manufacturing process of semiconductor, flat panel display and PCB industries, the market demand for photoresist has been released rapidly, especially the output of photoresist used in flat panel displays has increased. my country’s photoresist output has shown a steady upward trend. According to data from the Tou Leopard Research Institute, China’s photoresist production has increased from 63,000 tons in 2014 to 90,000 tons in 2018 (CAGR of 9.3%). It is estimated that by 2023, China’s photoresist production is expected to reach 238,000 tons ( The 4-year CAGR was 21.56%).

Benefiting from the support of the national dividend policy, Chinese local photoresist manufacturers have actively improved the technical level and R&D capabilities of photoresist products, and promoted the process of localization of photoresist. In the future, China is expected to break through the technical barriers of high-end photoresist products and drive China’s photoresist output to further increase. At the same time, the global semiconductor industry, flat panel display, and PCB industries are gradually shifting to China, driving the surge in demand for China’s photoresist, and China’s photoresist industry has a lot of room for development. In addition, in the context of the continuous and deep development of China’s “Industry 4.0”, “Internet +” and “Made in China 2020”, the demand for photoresist in the downstream applications of the industry is expected to continue to grow, thereby promoting China’s photoresist The output has increased. It is estimated that China’s photoresist output is expected to reach 238,000 tons by 2023, and the market development space is broad.